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What are the payment terms for the Bang Cookies management service fee?

Bang_Cookies Franchise · 2024 FDD

Answer from 2024 FDD Document

Non-compliance Actual fees, costs, and expenses On demand Fees, costs and expenses incurred by us as a result of your breach or noncompliance with the terms of your Franchise Agreement.
Supplier Review Actual fees, costs, and expenses Within 14 days of invoice You must pay us the costs incurred by us to review and evaluate a potential supplier, product, or service that you submit to us for approval.
Management Service Actual costs incurred by us As invoiced Payable if we elect to manage the Franchised Business due to a failure by you to have the Franchised Business managed by an authorized Managing Owner or Manager.

Source: Item 6 — OTHER FEES (FDD pages 13–17)

What This Means (2024 FDD)

According to Bang Cookies's 2024 Franchise Disclosure Document, if Bang Cookies elects to manage the franchised business due to the franchisee's failure to have the business managed by an authorized Managing Owner or Manager, a management service fee will be payable. The fee is based on the actual costs incurred by Bang Cookies. The payment for this service is due as invoiced.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.